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Telkom net profit grows 13.1% in recovering economy
Growth was driven by mobile data and home internet services, while the telephone segment remains in decline.
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Telkom chief technology officer Abdus Somad Arief puts his signature on the Telkom-3S satellite's fairing prior to it being placed on top of the Ariane 5 VA235 rocket at the Guiana Space Center's Final Assembly Building in French Guiana on Feb. 8, 2017. (Courtesy of PT Telkom Indonesia/-)
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T Telkom Indonesia (Telkom) has seen its net profit grow 13.1 percent year-on-year (yoy) to Rp 18.9 trillion (US$1.32 billion) in the third quarter of this year, as data and internet revenue continued to rise fast.
In its latest financial report published on Wednesday, Telkom announced revenue of Rp 106 trillion in the third quarter, up 6.1 percent from last year, supported by mobile data and home internet services, sales of which increased 8.3 percent and 21.9 percent, respectively.
Meanwhile, the telephone segment – the company’s third-largest source of revenue – continued its decline with a 15.6 percent yoy drop to Rp15.98 trillion in the third quarter.
“Telkom's improving performance is closely connected to the pandemic response in Indonesia, which provides the momentum for national economic recovery,” Telkom president director Ririek Adriansyah said in a statement.
Read also: Telkom books 11.5% growth in net profit as digital demand rises
The telco’s performance improvement was bolstered by rising demand for its services amid the pandemic-induced boom in the domestic digital economy due to COVID-19 restrictions.
The company counted 8.47 million subscribers for IndiHome – its home internet business division – in the first nine months of this year, up almost 10 percent from the corresponding period last year, while its mobile data userbase grew by 3 percent yoy to 120.86 million.
